SNM168: Double Your Income With Coupons

When it comes to owning a business, you’ve got endless things to consider. Once you get into the nitty-gritty, you’re focusing on how to get people to buy, and the greatest thing you could do is offer coupons. Everyone is a sucker for a coupon.

Sometimes, it is an item they don’t need or don’t want, but they have that digital or paper coupon, so they get it anyway. This is excellent for businesses that utilize them correctly, as you can boost your sales with coupons.

How to Get More Sales by Offering Coupons

There is a trick to boosting your sales through coupons. You can either take a discount to make a sale, or you can raise the price and offer the coupon to make it the same price as before. For example, if you have a product at $20, you can double it to $40 and offer a $20-off coupon. It’s still the same price, but people think they are getting a deal. Of course, some people scour the internet for months before making a purchase, so they might realize what happened.

Still, the goal here is to grow your business using coupons. Whether you want to get rid of an item you no longer wish to stock or have something brand new on the shelves, it’s a great way to create some buzz on the subject. The coupon can be for anything, such as a free item, percentage off the bill, or a specific amount off the total.

Regardless, your goal is to get people to buy, especially if it is considered an impulse buy or something unnecessary.

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Can You Double Your Profits?

It is possible to double your profit using coupons, but it isn’t going to happen overnight. In about six months, you could be making double the revenue by offering coupons to your customers. Whether in an email or on the app, a coupon is quite exciting to a potential customer. Not only are you going to get new customers, but you’re also going to keep current ones.

Strategically sending coupons periodically can improve your marketing strategy. Most people don’t know how to save with coupons, so you’re still going to earn profits while keeping people interested and engaged with your business.

Check out today’s episode on doubling your income using coupons. You’re sure to find some helpful tips and new ways to breathe life into the company.      

Show Notes:

Key Points:

1. Coupons attract more customers
2. People will spend a lot to save a small amount
3. Reward people for taking action

Resources Mentioned:

Sponsor: